Tuesday, July 27, 2021


Financial Services

HIGHER INTEREST RATES last week discouraged buyers and homeowners looking to refinance, the MBA said. The housing slump is a big problem for sellers like Mary  Kamanu, who this month had to pay the bank more than $80,000 to sell her house in Folsom, Calif., above, which had lost 20 percent of its value since she bought it three years ago. /

Mortgage applications fall as interest rates rise

WASHINGTON – Mortgage applications nationwide plunged last week, led by applications to refinance, as interest rates rose to their highest level this year, according...

Clear Channel, Providence Equity at odds<br> over delays in TV-group sale

PROVIDENCE – Providence Equity Partners says all bets are off for its planned acquisition of Clear Channel Communications Inc.’s 56-station Television Group, according to...

U.K. equity firm buys Oyster Marine

IPSWICH, England, and NEWPORT – Oyster Marine Ltd., a U.K.-based yacht builder with shipyards in Ipswich and Newport, has been acquired by U.K.-based private...

Blue Cross Direct Pay gets 2/3 of requested rate hike

PROVIDENCE – The R.I. Office of the Health Insurance Commissioner has approved an average rate increase of 8.7 percent, or nearly a third less...

Health-reform plan would affect all R.I. stakeholders

Lt. Gov. Elizabeth H. Roberts is proposing a comprehensive health care reform package that would expand insurance coverage while containing growth in related costs....
JOHN GOWELL, right, a partner in Burns & Levinson, says that different factors affect each segment of the real estate market. With him, at left, is fellow Burns & Levinson partner Rich Coen. /

As real estate market dips, new legal clashes arise

The slumping real estate market has not had a large effect on day-to-day commercial-property litigation, but it has changed the type of cases some...

Fannie Mae is sued over its massive escrow earnings

Fannie Mae, the largest source of U.S. home-loan money, faces a proposed class-action lawsuit over as much as $7 billion it earned on property...

Dip in home prices, sales reflects struggling market

Median prices for single-family homes in the Ocean State fell during 2007, but tightening lending practices in Rhode Island and nationwide are keeping many...
FROM LEFT: Joseph J. MarcAurele, president, Citizens Bank, Rhode Island; Warwick resident and Community Reinvestment Act award recipient Ray Neirinckx; and Gov. Donald L. Carcieri. /

Community Reinvestment honored by Citizens Bank

The Citizens Bank Foundation recently granted Ray Neirinckx $30,000 in honor of the 30th anniversary of the U.S. Community Reinvestment Act. Neirinckx is the...

Health law expert tapped to head R.I. association

Virginia M. Burke has been named president and CEO of the Rhode Island Health Care Association (RIHCA). Burke brings to RIHCA extensive experience in...

Stay up to date with PBN's Morning Call & Daily Edition newsletters.

- Featured Event -

Latest News

One week only, get full access to all articles on PBN.com when you create a complimentary account.


Register today >>

Register to read all articles free - This week only!


One week only, get full access to all articles on PBN.com when you create a complimentary account.

Sign-up to get

Banking & Finance Updates

Delivered every Tuesday and includes the most recent news about and insights from the banking and financial services segments of the region’s economy.

By submitting the form you agree to PBN's Privacy Policy and Terms of Use.

We’re glad you are enjoying PBN.